Learn how to give yourself the best chance at quickly receiving your tax return. January 23, 2023, marked the beginning of tax season as the Internal Revenue Service (IRS) accepted and processed 2022 tax returns. Last year, Americans received an average refund of $3,253 for their 2021 tax returns, as reported by NBC News. As of February 3, the average tax refund amount is $1,963.
While we have yet to see how the average refund size Americans receive in 2023 will compare to last year’s refunds, here’s what you need to know about how long you might have to wait for your refund check. The IRS suggested holding off on filing if you received such payments from your state so they can determine further guidance on navigating the relief. The goal is to avoid having the taxpayers file amended returns.
When Should You File Your Tax Refund?
First and foremost, the IRS typically urges all individuals to file their taxes as soon as possible. By the way, you have ample time to correct any mistakes or last-minute snares ahead of the deadline on April 18, 2023. This year, though the IRS is urging caution to any taxpayers who received state last year any special inflation-related tax relief or payments. Otherwise, the agency has reminded taxpayers to make sure all of their personal information and tax documents are correct to ensure a smooth filing process and a pacey tax refund.
According to the IRS website, taxpayers should expect to receive their 2022 tax refund within 21 days of submitting their return so long as they file electronically, choose to receive their refund through direct deposit, and don’t encounter any issues like inaccuracies or incomplete information, and you can file your taxes for free through the IRS.
